Lazard Asset Management LLC Decreases Stock Position in Willis Towers Watson Public Limited Company $WTW

Key Points

• Lazard Asset Management cut its WTW position by 91.5% in the first quarter, selling 23,063 shares and retaining 2,143 shares valued at approximately $623,000. Institutional investors collectively own 93.09% of the company.
• Willis Towers Watson reported quarterly EPS of $3.35, beating estimates of $3.12, while revenue rose 9.1% year over year to $2.47 billion.
• WTW recently paid a quarterly dividend of $0.96 per share, equivalent to a $3.84 annualized payout and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $363.50.

Lazard Asset Management LLC trimmed its holdings in Willis Towers Watson Public Limited Company (NASDAQ:WTW - Free Report) by 91.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,143 shares of the company's stock after selling 23,063 shares during the period. Lazard Asset Management LLC's holdings in Willis Towers Watson Public were worth $623,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp lifted its holdings in shares of Willis Towers Watson Public by 26.1% in the first quarter. OMERS ADMINISTRATION Corp now owns 4,653 shares of the company's stock valued at $1,353,000 after purchasing an additional 963 shares in the last quarter. London Co. of Virginia increased its stake in shares of Willis Towers Watson Public by 3.6% during the 1st quarter. London Co. of Virginia now owns 10,865 shares of the company's stock worth $3,158,000 after purchasing an additional 382 shares in the last quarter. Sustainable Insight Capital Management LLC purchased a new position in shares of Willis Towers Watson Public during the 1st quarter worth approximately $2,466,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Willis Towers Watson Public by 57.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,974 shares of the company's stock worth $1,737,000 after purchasing an additional 2,189 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Willis Towers Watson Public during the 1st quarter worth approximately $30,058,000. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Willis Towers Watson Public Stock Up 0.6%

WTW stock opened at $340.01 on Friday. The company has a 50 day moving average price of $282.55 and a two-hundred day moving average price of $286.94. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a market capitalization of $31.58 billion, a P/E ratio of 20.91, a PEG ratio of 0.97 and a beta of 0.42. Willis Towers Watson Public Limited Company has a one year low of $240.61 and a one year high of $352.79.

Willis Towers Watson Public (NASDAQ:WTW - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $3.35 earnings per share for the quarter, topping analysts' consensus estimates of $3.12 by $0.23. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.42 billion. Willis Towers Watson Public had a return on equity of 22.19% and a net margin of 15.49%.The business's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.86 EPS. As a group, sell-side analysts expect that Willis Towers Watson Public Limited Company will post 19.8 EPS for the current year.

Willis Towers Watson Public Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.96 per share. The ex-dividend date was Tuesday, June 30th. This represents a $3.84 annualized dividend and a yield of 1.1%. Willis Towers Watson Public's dividend payout ratio is 23.62%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WTW. UBS Group increased their target price on Willis Towers Watson Public from $382.00 to $405.00 and gave the company a "buy" rating in a report on Monday. The Goldman Sachs Group boosted their price target on Willis Towers Watson Public from $316.00 to $385.00 and gave the stock a "buy" rating in a report on Monday. Bank of America reduced their price objective on Willis Towers Watson Public from $354.00 to $347.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings lowered Willis Towers Watson Public from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 15th. Finally, Cantor Fitzgerald lifted their price objective on Willis Towers Watson Public from $344.00 to $380.00 and gave the stock a "neutral" rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $363.50.

Willis Towers Watson Public Company Profile

Willis Towers Watson Public NASDAQ: WTW is a global advisory, broking and solutions company that helps organizations manage risk, optimize benefits and cultivate talent. The firm combines insurance brokerage and risk management capabilities with human capital and benefits consulting, actuarial and analytics services, and technology-enabled solutions. Willis Towers Watson serves a broad client base that includes multinational and mid-sized corporations, public sector organizations, insurers and investment managers.

The company's core activities encompass commercial and reinsurance brokerage, risk transfer and risk-financing advice, and claims advocacy, alongside employee benefits and retirement consulting.

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